International occasions like this may have an effect on the value that all of us pay for our vitality. Let’s discover the way it impacts what you are promoting.
We’ll cowl why the battle impacts vitality costs, the way it impacts you and what we’re doing to maintain costs honest.
If you would like to understand how the battle impacts your private home vitality, we have written about that right here.
Why is that this impacting vitality costs?
The battle within the Center East has sharply diminished international availability of oil and gasoline. Usually, about 20% of the world’s provide passes by waterways within the area. So, hundreds of thousands of barrels have been stopped from getting into the worldwide provide chain. This implies oil and gasoline costs have gone up.
Gasoline nonetheless performs a decisive position within the UK grid. It generates electrical energy in a means that may be turned on or off in step with demand. So, it is used to steadiness grid vitality ranges.
Due to this dependence, gasoline worth will increase imply total electrical energy prices go up. Even energy from inexperienced sources feels the results.
How will altering costs have an effect on my enterprise?
This is determined by the kind of tariff you’re on for the time being.
I’m on a set tariff
Your costs aren’t altering. They’ll keep the identical for the size of your contract.
I’m on a set tariff that’s ending quickly
You’re free to decide on a brand new contract if you’re prepared. Once you do, we’ll give you the most effective charges accessible at the moment.
These are prone to be increased than they had been pre-conflict. Fixing a brand new contract would lock costs in for as much as 24 months, defending you from any extra surges. But when costs fall once more, you would not really feel the advantage of the decreases.
I’m on a versatile tariff
We often evaluation our versatile charges to ensure they mirror the wholesale price of vitality. If these price will increase keep it up, we may have to vary your vitality costs. However this gained’t be for a few months not less than.
We’ll all the time provide you with loads of discover earlier than we make any adjustments like this.
You are additionally free to decide on a brand new mounted contract at any time.
What’s Octopus doing to guard companies’ vitality costs?
We’re not altering mounted costs mid-contract
With Octopus, your charges are your charges. We by no means change them partway by your time period.
We’re nonetheless providing new mounted contracts
If you would like extra certainty, you’ll be able to repair your costs for as much as 24 months.
We’re all the time working to maintain your costs honest
Our 6 pricing rules make certain of it, even when wholesale prices rise.
What ought to I do now?
We don’t know what’s going to occur within the coming weeks and months. Wholesale vitality prices reply shortly to occasions. If the battle ends, costs ought to fall once more. That being mentioned, nothing is for certain.
We’re right here to assist what you are promoting
Though we are able to’t say what’s going to come subsequent, we’re all the time blissful to present you some one-on-one help.
Simply get in contact – our workforce is able to assist.
E-mail: [email protected]
Cellphone: 020 3389 5613
